China imports 73% of record Brazilian soybean exports in April

Some 73% of the all-time record 17.4 million mt of soybeans exported from Brazil in April were bound for China, with the states of Mato Grosso and São Paulo as the main origins, official customs data showed on Thursday.

Cargos heading to China totalled 12.6 million mt, the highest volume on record and 2 million mt higher than last year.

Other major destinations were the EU, whose Brazilian bean imports amounted to 1.6 million mt in April, as well as Mexico and Turkey, with just over 400,000 mt each.

Brazil’s April exports were bolstered by delayed harvested beans arriving at ports later than previously anticipated and the pushing of volumes that were expected to have reached the seaborne market earlier in April.

April exports were mainly originated in the states of Mato Grosso and São Paulo, which accounted for 22% and 21% of total exports, respectively.

Exports from Rio Grande do Sul also picked up, reaching 1.7 million mt in April, 10% of the total, a fivefold increase on the month and 18% higher on the year as the much-delayed harvest in the state finally started to arrive at ports.

With record shipments registered in April, Brazilian bean exports reached 33 million mt year-to-date, 1.1 million mt higher on the year and also a historical record for the first four months of the year.

Year-to-date volumes bound for China also reached an all-time high at 23.9 million mt, 2.9% higher on the year.

Meanwhile, Brazil exported 130,000 mt of corn in April, bringing total 2021 exports up to 3.6 million mt, 23% higher on the year with main destinations being Egypt (768,953 mt), Vietnam (524.553 mt) and Iran (507,658 mt).